freecounterpoint: Going full Greek

Wednesday, July 13, 2011

An ironclad guarantee. Not.

Tecumseh said...: We are all Greek now:

A 20% to 40% gap in income levels emerged between the U.S. and Europe, reflecting a lowered European work effort. In Prof. Lucas's view, that gap represents the cost (largely taxes) of financing a larger welfare state from 1970 onward. ... "If we're going to move to a European welfare state, we're going to have to pay a European price." And that price could be a permanently lower level of GDP per person. The U.S.'s amazing 100-year ride would slow.

Would?? Hasn't it already?; 7/14/2011 12:55 AM
Mr roT said...: International bankscists!; 7/15/2011 4:24 PM